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Suppose You Owe $2,000 on Your Credit Card and You

Question 60

Multiple Choice

Suppose you owe $2,000 on your credit card and you are charged a 2 percent monthly interest rate on the balance.How much in interest will be generated on that balance after the first month?


A) $20
B) $40
C) $200
D) $400
E) $3.33

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